Comments

  1. Great article and fully agree! This is one of the reasons I haven’t sold any coins through on-line outlets. Until buyers are held accountable for their actions, I have other things to do with my time.

  2. Good Evening! Interesting and informative article, as always.

    However, I don’t understand what you refer to as “playing the no-pay video game.” Who would do that and why? I don’t see what benefit anyone gets from it. I can understand people who get caught up in the emotion of an auction and bid beyond their ability to pay; I can also imagine that sometimes shill bidders inadvertently win lots when they only intended to boost the price. But this seems to be different: you seem to suggest that two bidders deliberately collude to make false bids against each other, fully intending to win the auction and then skip out on payment – you mention a “prank partnership.” Can you expand on this?

    Thanks!

  3. Yep. Auctioneers have mentioned this to me. I have researched this phenomenon in my technology books. Gratification theory. It can be a no-pay bidder triggering a war, too, going after one bidder who typically wins with high but not acceesively high bids, making sure he deprives the person of wins. Point here is this is not a game. People get hurt.

  4. I actually quit bidding on coins because of this. If you watch a few auctions on ebay it can be very obvious on certain items something is going on. If you go to the bids above the PLACE BID buttons and watch sometimes it can be ridiculous. In the bidder column it really is just be down right obvious, especially if the whole group of bidders are not shown or bidder hidden. This happens a lot on America the beautiful quarter 1st strike silver PR70 full sets graded by PCGS.

  5. Not sure about No-Pay Bidders, but I have seem too many shill bidders working for the seller. They are flagrantly abusive, and e-bay just watches it.

  6. Hey Sith, that is exactly what I was trying to say. When the bidder is hidden, that brought a red flag to me. The other issue with ebay is when I would win a no reserve auction for a good price, then get a notice that the sellers has backed out for one reason or another. That is BS and getting through to ebay is next to impossible.

  7. I’ve sold a few hundreds of coins, only dealt once or twice with a person who didn’t pay. Of course I never send until paid, so it’s really a non issue for me. I have gotten more people who pay only after several days, which is annoying.

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